Sports organizers and race organizers are implementing mobile ticketing to provide hassle free ticket purchase experience. Mobile ticketing is the process where customers can buy and validate the tickets using mobile phones. Event organizers production and distribution costs associated with traditional paper based ticketing channels is eliminated with the implementation of mobile ticketing. Apart from this, the data exchanged digitally through ticket transactions enables sports organizers to learn more about fans and generate insights to formulate marketing strategies from the database. For instance, Barcelona implemented mobile ticketing and eliminated paper tickets by introducing a new system that allows fans to scan a bar-code on their phones gain access to matches. Pocono Raceway launched a mobile ticket delivery system that allows fans to have their ticket delivered to their mobile device and have their ticket scanned at the gate directly from their mobile device

SPORTS MARKET TO GROW TO $632 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY

The Business Research Company expects the global sports market is expected to grow from $535 billion in 2016 to $632 billion in 2020 at a compound annual growth rate (CAGR) of 4.3%. North America was the largest region in the sports market in 2016, accounting for $173 billion or 32.5% market share and this was mainly due to highly developed sports infrastructure, high disposable income, increase in number of foreign tourists, increasing corporate investments in sports, increasing broadcasting and media revenues, high popularity of sports such as American football, baseball, basketball, tennis, and wrestling, and government initiatives to promote sports.

The chart below shows the year-on-year growth of the global sports market during 2016-2020

According to The Business Research Company’s Media Consultant, Ramesh Yelugoila, sports organizers are implementing virtual reality technology to improve the spectator experience in a sporting event. Virtual reality technology generates images, sounds and other sensations that simulates a physical presence in an imaginary environment. Clubs and teams are experimenting with simulated and 360-degree environments to enhance the match viewing experience of the fans by allowing them to have a virtual walkthrough of the stadium or the race track and view the match at different angles. For instance, NBA game between the Sacramento Kings and San Antonio Spurs was broadcasted in VR. The viewers could watch the action from a myriad of angles, including underneath the basket. NASCAR has created an interactive fan area at the race tracks with the implementation of virtual reality.

FC Barcelona was the largest competitor in the sports market in 2016 with a 0.14% share of the market. FC Barcelona’s growth strategy aims to increase its revenue by investing in new infrastructure and improving its brand name and international presence. According to its strategic plan, the club will invest in the construction of sports venues to promote the club and generate new revenue sources.

The sports market includes establishments offering spectator sports and participatory sports. Spectator sports includes teams or clubs and independent athletes primarily involved in presenting sporting events before a paying audience. The owners of racing participants primarily involved in entering the participants into racing events or other spectator sports events and the sports trainers who are involved in providing specialized services to support participants in sports events or competitions are part of this industry. The establishments involved in operating race tracks are also included in this industry.

Sports Market Global Briefing 2017 is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.

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